Orca Investment Management LLC Increases Stake in The Boeing Company (NYSE:BA)

Orca Investment Management LLC lifted its stake in shares of The Boeing Company (NYSE:BA) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,840 shares of the aircraft producer’s stock after buying an additional 361 shares during the quarter. Orca Investment Management LLC’s holdings in Boeing were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazari Capital Management Inc. boosted its stake in Boeing by 55.7% during the second quarter. Lazari Capital Management Inc. now owns 23,216 shares of the aircraft producer’s stock worth $4,226,000 after acquiring an additional 8,309 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in Boeing by 869.1% during the first quarter. Sanders Morris Harris LLC now owns 22,775 shares of the aircraft producer’s stock worth $4,395,000 after acquiring an additional 20,425 shares in the last quarter. Czech National Bank boosted its stake in Boeing by 8.4% during the third quarter. Czech National Bank now owns 119,243 shares of the aircraft producer’s stock worth $18,130,000 after acquiring an additional 9,281 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Boeing by 20.7% during the first quarter. Park Avenue Securities LLC now owns 10,543 shares of the aircraft producer’s stock worth $2,035,000 after acquiring an additional 1,805 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd bought a new stake in Boeing during the third quarter worth about $11,237,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Trading Up 3.0 %

Shares of BA stock opened at $151.02 on Monday. The Boeing Company has a 12 month low of $146.26 and a 12 month high of $267.54. The stock has a market cap of $92.71 billion, a P/E ratio of -42.54 and a beta of 1.57. The company has a 50 day simple moving average of $162.41 and a two-hundred day simple moving average of $173.72.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analyst estimates of $17.35 billion. During the same period in the prior year, the company posted ($0.82) earnings per share. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, equities analysts forecast that The Boeing Company will post -5.35 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on BA. Wells Fargo & Company dropped their price objective on shares of Boeing from $119.00 to $110.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein dropped their target price on shares of Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus upped their target price on shares of Boeing from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen dropped their target price on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.